Petronas presses on with Bokor tender but uncertainty prevails

Singapore

THE upstream subsidiary of Malaysia's state-owned Petronas has pressed on with a tender for an anchor production facility of the delayed Bokor phase 3 field development, even as oil prices slipping under US$40 before the year-end continues to pose challenges to the project's economics.

Bokor phase 3, initially envisaged to boast a central processing platform and seven wellhead platforms, has been scaled down to about half its original size to justify the economic viability of a project considered key to enhancing oil recovery from Malaysia's mature hydrocarbon basins.